Konarka Technologies GmbH files for bankruptcy

Following yesterday’s report that US-based Konarka Technologies is undergoing liquidation proceedings pursuant to Chapter 7 of the US Bankruptcy Code, it has now been announced that the thin-film company’s subsidiary in Germany has also filed for bankruptcy. Attorney Alexander Kubusch of national German insolvency administration firm CURATOR AG has been appointed as the preliminary insolvency administrator.

“We can sustain the R&D work in Germany without any difficulties at the moment. Nonetheless, our objective must be to find a suitable investor as quickly as possible who's prepared to get the company's first-class development work back on track again and to guarantee its production operations and future developments in the long term, because a successful transfer of the US parent group is currently still very much up in the air,” says attorney Kubusch, following an initial analysis of the situation. He adds: “If, however, we are able to find an investor and also keep the existing, as well as government research contracts in the company, I have every confidence that the company will be able to keep going long term at its Nuremberg site.”